Farm and Land Real Estate in Williston, ND

Until recent years, the western North Dakota economy was primarily agriculture based. Nowadays, agriculture still plays a prominent role in the economy, but it competes with the oil industry for the top spot. Today, approximately one quarter of all North Dakota residents are employed by the agricultural industry.

Owning farmland can be both a prosperous and a practical move for many investors. The farming lifestyle appeals to many people who dislike the 9 to 5 grind. Some high points of farm ownership include the freedom to set your own hours, the ability to make something out of the land that you personally own, and the stability of the investment. These aspects draw a variety of individuals towards agriculture.

Many investors are looking to diversify their portfolios beyond stocks and bonds, and real estate is the perfect way to do that. While some investors choose to buy up residential properties and rent them out to individual families, this move does not ensure the stable rate of return that can be obtained with farmland or other commercial investment properties.

Farm and Land Real Estate in Williston, ND

The farms in North Dakota grow an impressive variety of crops, many of which have an astoundingly high yield. In fact, North Dakota is the primary exporter of flaxseed, canola, durum wheat, dried beans, dried peas, spring wheat, honey, lentils, sunflowers, barley, and oats. In addition to planting and harvesting crops, many North Dakota farmers also raise livestock. Cattle raising is so common in this area that the cattle outnumber the people 3 to 1. Other common farm animals are hogs, sheep, lambs, and turkeys.

The global population is increasing exponentially, and the demand for food – particularly corn and wheat – is also rising. Unfortunately, (or fortunately, for the investors) there is a limited amount of farmland available. As the demand for food continues to rise, the demand for farmland will also increase, driving up prices. If you are interested in owning farmland, now might be the optimal time to make your move. Historically, farmland appreciates at 2% – a higher rate than that of inflation – making it a stable investment even during economic downturns. In addition to the intrinsic value of the property, farmland also pulls in additional revenue when the crops are harvested and sold. While there will always be a few bad years, the typical crop yields a positive rate of return. Overall, farmland produces a stable, high rate of return, averaging between 11% and 12%. There are also tax incentives for owning farmland, particularly if the land is also your primary place of residence. In addition to these tax breaks, the United States Treasury allows you to deduct your losses on bad years. This will limit the amount of money you lose when there is a disappointing harvest.

The easy to use search feature on our Property Search page will help you narrow down your search for land in North Dakota. To get personalized advice about your property search, contact a Bakken Realty agent today.